EUR/USD Forecast October 11, 2016, Technical Analysis

The EUR/USD pair fell significantly during the course of the session on Monday, crashing into the 1.1150 level. I believe that there is a significant amount of support just below there, so it is going to take quite a bit of effort to finally break down. However, I do think that’s how this pair is going and short-term rallies could offer selling opportunities going forward. Ultimately, this is a market that will more than likely reach towards the 1.10 level below. The purple triangle that I have on the chart being broken to the upside could be a bullish sign though.